MNI BRIEF: Bostic Says Fed Not In Rush To Cut To Neutral

MNI: FED'S BOSTIC-NEUTRAL RATE IS SOMEWHERE IN 3%-3.5% RANGE

MNI BRIEF: China To Support OBOR Via Foreign Exchange Reserves

MNI China Daily Summary: Friday, October 18

MNI BRIEF: PBOC To Curb Challenges Of House And Equity Markets

MNI BRIEF: PBOC Launches CNY300bln Stock Buy-back Facility

MNI: US SEP TREASURY BUDGET $64.3B

MNI: US SEP HOUSING STARTS 1.354M; PERMITS 1.428M

EZ/UK Bond Supply Calendar: IT, SL, EU, BE, BoE APF on Monday

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Weak Start To The Year, US Tsy Futures Weigh

AUSSIE BONDS

ACGBs (YM -5.0 & XM -6.0) sit weaker, hovering near the lows observed during the Sydney session. In the absence of significant domestic events today, local market participants are relying on US tsy futures as a directional indicator. Notably, US tsy 10-year futures are trading at -0-12+, standing at 112-16, having weakened ahead of the New Year's long weekend.

  • Cash ACGBs are 5-6bps cheaper, with the AU-US 10-year yield differential 3bps wider at +14bps. It is important to note however that cash US tsys have not been trading in today's Asia-Pac session due to a public holiday in Japan.
  • The swaps curve has bear-steepened, with rates 3-6bps higher. EFPs are 1-2bps tighter.
  • The bills strip has bear-steepened, with pricing -3 to -6.
  • RBA-dated OIS pricing is 1-5bps firmer across meetings, with November leading.
  • Tomorrow, the local calendar sees Judo Bank Composite and Services PMIs.
  • Later today, the US calendar sees S&P Global US Manufacturing PMI (Dec F) and November Construction Spending. ISM Manufacturing is due on Wednesday.
Bullet Markets Fixed Income Bullets Homepage
Bullet Markets Fixed Income Bullets Homepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.